The SECRET Way To Reduce Churn (Challenge Funnels) | What The Funnel - Ep.6

Pop quiz. Do you know what the number one most common New Year's resolution is? You guessed it. To get in shape. So question number two. What did the fitness industry do in response to this? They launched Challenge Funnels. What is a challenge Funnel? So let's talk about it. Roughly 12% of all new gym memberships happen in January. And look at all these other stats. I can't even remember. I mean, there's so many of them. Stop, stop, stop, stop. But challenge funnels are not just reserved for people who can carry their groceries with one arm. No matter what industry you are in, dentistry, coaching, E Com, whatever, you can introduce a ton of new people to your business. You should only consider challenge funnels if you're looking to do one of these three things. One, get more leads. Two, boost customer success rates. And three, reduce churn. All of these things amount to more sales. So do not do this. If you hate making money. Challenge funnels do something that no other funnel or traditional website can do. They gamify your offer. So. So it becomes this exciting thing that your customers don't feel like they're buying from you. In their mind, they're thinking, I just accepted a challenge, I wanted to do this thing anyway, and I'm gonna prove to Megan, I mean myself, that I can do this. So the psychology really does put the fun in funnel. Once they start going through your challenge, pushing themselves to achieve their goal, you'll be taking them through your language, processes, core values, all the essential things they'd need to. So by the end, they are ready to run. Now your customers will change in a few ways. One, their success rate will skyrocket. Two, they'll become more compliant customers that need less help. And three, this may seem negative, but you actually get rid of the people that weren't the right fit anyway. So you get to work with only your dream customers who are happy, qualified and ready to stay for life. Megan, if you're still not totally sold on challenges yet, you. You probably just don't know what kind of challenge your business could offer. It's much simpler than you think. Start by asking yourself what's missing that my customer needs in order to get started? Then all you need to do is determine three things. One, the length of the challenge. It could be a 48 hour film challenge, a five day water fast or even a 30 day flossing challenge. Oof. They don't need to be that hard. Two, challenge location. It could be a Facebook group, Slack channel, or even local venue. Just keep in mind, there should be at least some way for participants to interact and become accountable to others. 3. Training format. You could do this through live video calls, pre recorded content, or even a workbook. Not that hard, right? Well, let's break it down. The funnel is usually made up of three pages. The order form page, an upsell page, and a thank you page. Page one. You tell them exactly what the challenge is and more importantly, what result they're going to get by the end of it. It could be to lose £15 to build authority as a real estate agent, even to launch their first online business. Have a section where you tell them about yourself or whoever is running the challenge. Tell them exactly what they're going to do and how the challenge will be delivered. And if you have them add some testimonials from people who've taken the challenge before, then reveal the price. But right before they finish page one, we add in a quick order bump. Here we can give them a simple no brainer bonus offer that's complementary to the challenge. This could be a simple cheat sheet, progress journal, supplements, any kind of fun useful add on and then from there they're taken to the upsell page. We found that some of the best upsells for challenge funnels are the ones that the buyer believes will help them complete the challenge. This could be accountability, coaching, swag, workbooks, or any supplies that go with the challenge. The key to these upsells is to ensure that they are not adding a lot of extra information and that they are not completely necessary. Instead, they are simple tools that will help them complete your challenge and get even better results. This is where you thank them for joining and you deliver the challenge. You could share the link to the FB group or Slack channel or wherever you're hosting the challenge. Or you can easily use a clickfunnels members area and give them access right away. Now, I'm not gonna tell you which one is better, but I think you. Here Tony Robbins and Dean Graziosi have the build you'd brand challenge. On the sales page they explain that it's a five day challenge that will be delivered through live training in a private Facebook group. They show a list of who will be teaching. They clearly explain the end goal of what people will accomplish and they also offer a ton of prizes for participating. Nice touch. For the upsell they have a VIP edition which includes exclusive Q and A sessions after the training and the replays. Then they have another upsell for a $1 trial of mastermind.com along with some other bonuses. And finally they deliver the challenge for example. 2. Let's look at Peng Joon's video challenge. Here he promises you can get all your marketing videos done in three weeks even if you have no experience or tragically suck at being on camera. Good thing I don't need this challenge, right? His video does the heavy lifting and explains this simple offer. Then on the checkout page he has an order bump of a yearly marketing plan that's easy to follow for just $37. And finally his upsell where he offers an implementation week, a virtual event that helps people with their next steps after they complete the challenge and record all their videos. Then a downsell which is a payment plan if they said no to the previous offer. He then wraps it up with the thank you page to help you join the community and access the challenge. Finally, we have the one funnel away challenge by us. It's a 30 day challenge to build your very first funnel for your business. We have an epic sales video explaining what the challenge is and more importantly what it's like to complete it. We use timers to show when it will start, a personal message from Russell, a short questionnaire to qualify the leads and the three steps of the challenge, some bonuses including a book, tons of testimonials from previous participants, and finally an epic offer stack. And that's just on page one. Page two. Well actually I'll just challenge you to go check it out for yourself. There's a link in the description. Challenge funnels work in every industry. Whether you're an artist or a gamer or in E commerce or a trainer. Whatever it is, it's a no brainer. So now it's your time. Go forth and challenge your audience in a way they've never been challenged before. Thanks for watching. I hope you enjoyed this video. But before you get started on your Challenge funnel, please like and subscribe and let us know in the comments if you have any questions about Challenge funnels or anything else like what the best pizza topping is. See you in the next one. What is the best pizza topping? Ah, pineapple.